City could lease space in development deal

12:36 AM,
Dec. 4, 2012

A development deal is being negotiated for the Montgomery Mall.

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The city of Montgomery has made a preliminary commitment to lease space in a portion of the old Montgomery Mall as part of a development project that has the potential to kick start the mall's revitalization, city officials said.

The current owner of the 446,000-square-foot main portion of the mall and the former JC Penney building, Blue Ridge Capital, is in the process of negotiating its sale with a Florida-based developer, Greg Hughes.

If the sale goes through and if a lease that makes economic sense for the city can be negotiated, the city agreed to lease 20,000 square feet, a portion of which ...